Smartsheet Lines Up $35M

May 06, 2014

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Sutter Hill Ventures has led a $35 million financing round for Smartsheet, a work management solutions provider. The round also saw participation from previous company backers Insight Venture Partners and Madrona Venture Group. The company has raised a to-date total of about $70 million, including its last financing in 2012, which totaled $26 million and gave it a $37 million valuation. The new funds will be used to expand its spreadsheet-inspired tool, and capitalize on its adoption by large enterprises. Jim White, managing director at Sutter Hill, will join Smartsheet's Board as part of the financing.